…Not necessarily better. Finally, the anticipated news that Clear Channel will now be owned by private equity, rather than operate as a public company has been announced. While this may signal a company that is easier to run – without the burdens of Wall Street scrutiny – it also potentially ushers in a new era for the radio business.
Clear Channel is the straw that stirs the radio business. Their initiatives with voicetracking, collective contesting, and even "Less Is More" were all the catalysts of debate, and in many cases, other companies following suit. So this move will rekindle discussions about how radio companies are operated in the next several years.
Not that long ago, an investment analyst looked at what was happening in radio and declared that "bigger isn’t better." And perhaps the underlying implication of the Clear Channel story brings the wisdom of the "Consolidation Decade" into focus. As the company has already divested the concert division, and now will sell off nearly 500 radio stations and the entire TV group, the dream of owning and operating it all has burst. (Didn’t Time Warner reach that same realization, too?)
From our vantage point, this changes everything. And if more and more "little guys" emerge and start buying up those small market stations, the industry once again becomes a much more diverse business. Yes, the economic pressures remain, as do the competitive problems proposed by new media competition. But behemoths like the former Clear Channel were struggling, thus necessitating this big move.
We live – and work – in interesting times.
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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